Apple won't do major iPhone redesigns every two years anymore

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The new iPhone coming out this fall is going to be like the current iPhones.

Apple is moving away from its traditional 2-year upgrade cycle, in which a complete redesign of the handset is released every two years, with more subtle improvements released in a so-called "S" model in the years in between, according to the Wall Street Journal.

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That means that the completely redesigned iPhone 7 that many were expecting Apple to release as its next big phone this Fall will actually be a more incremental update, very similar to the current iPhone 6S.

Apple is preparing a device expected to launch in 2017 that will have bigger changes, as has been rumored. That device is could feature an edge-to-edge screen and a fingerprint sensor that's built into the screen itself, according to the WSJ report.

But this year, the iPhone coming out in September is unlikely to have major changes from the iPhone 6S.

It will still come in two models, a 5.5-inch version and one with a 4.7-inch screen. The biggest change is that it will lack a headphone jack, meaning that users will need wireless earbuds or new headphones that use Apple's charger.

It will also be 1mm thinner, according to a top Apple analyst quoted by the Wall Street Journal.

This news largely confirms rumors coming out of the Asian supply chain for the past few months.

The question remains: what will Apple name its new iPhone? If it's another incremental upgrade, consumers could be upset if Apple decides to call it the "iPhone 7."

And there are murmurings that next year, Apple's newer, revamped iPhone could be called a "10th anniversary" edition.

So if Apple is ditching its "ticktock" system of upgrades, it might be ditching the numbers as well. Instead of the iPhone 7 or iPhone 7 Plus, it could simply be called the iPhone and iPhone Pro (and users would fill in the model year.)

But one thing is clear: if you desperately need a new iPhone, suddenly waiting for the fall seems less attractive and the current iPhones seem like a better buy.